Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom in San Francisco on May 24, 2024.
Justin Sullivan | Getty Images
Lucid Group on Monday reported record quarterly vehicle deliveries for the fourth quarter and confirmed production of more than 9,000 vehicles in 2024 — meeting a previously announced target.
The electric vehicle manufacturer reported production of 9,029 units and deliveries of 10,241 cars in 2024. That included production of 3,386 units and delivery of 3,099 vehicles during the fourth quarter, the company said.
Last year’s results represented a 71% increase in deliveries and 7% uptick in production for Lucid compared with 2023.
However, such increases have not transcended to better investments for investors. Lucid’s stock declined by roughly 28% last year, as EV adoption has been slower than expected and the company has burned through billions of dollars in cash as it discounted some models and…
